Panic! Occupy Wall Street Protestors are now the 100%

Multi-millionaire Michael Moore has spent the last few weeks expressing support and identifying with the Occupy Wall Street movement.

Piers Morgan, one of the many hard-left CNN hosts, asked Michael Moore for an explanation of his actions in light of the fact that he’s a part of the 1%. The fact that Morgan challenged a fellow liberal may have appeared surprising at first and not in sync with the pass he usually hands them. It quickly became obvious though that his attempts to reason with Moore, albeit uselessly, was not in contradiction to his support for either OWS or Moore. He simply wished for the OWS protestors to be able to boast how the 99% has been joined by those in the 1%, thus garnering 100% support of the people. Moore, however, refused to cooperate, and turned and twisted his tongue in every way possible in order to avoid admitting the truth about his wealth which currently totals to fifty million dollars.

Listening to his fumbling mumblings, a panic and fear gripped me. Until now, as I watched videos of the OWS protestors which represent the 99%, I was comforted by the fact that 1% of the nation hasn’t joined them. I therefore dreamt and hoped of joining the 1% rich so that I too would be excluded of the OWS crowd. However, after listening to a 1% guy blast those who’ve helped him attain his wealth and identify with the OWS movement, there is no longer even a 1% which one can join to escape the kinship of the OWS crowd.

Buffett’s plea to pay more taxes despite the millions he owes in back-taxes was echoed at a San Francisco million dollar fundraiser for Obama last week attended exclusively by those making up the top of the 1%. These weren’t bitter gun clingers, but smart college-educated individuals who agree that the 1% should pay the tuition and most of the living expenses of the other 99%. Of course when discussing the 1% it somehow excludes them in action, but that is only understandable since they play the same game Michael Moore played on the Piers Morgan Show.

Until now they claimed to represent 99% of the people, now with the support of liberal richies such as the Moores and the Buffetts, they have succeeded in getting 100% of the country on their side.

Unless of course I’ve misunderstood the entire percent issue and the OWS is the one percent including Michael Moore, while the rest of the country makes up the other 99%.

Obama’s New Tax Proposal is closer to a “Joe the Plumber Tax” than a “Buffett Tax”

During his third presidential debate, Obama had suggested that his “friend and supporter Warren Buffett” and all others who earn more than $250,000 could afford to pay more taxes so that he then hand out tax cuts for those earning less than the above amount. This reply was in response to a heated back and forth with McCain in defense of his infamous “spreading the wealth” comment which he had made to Joe the Plumber on the campaign trail.

Last month, Warren Buffett wrote an op-ed in The NY Times in which he lamented the false fact that he pays less tax percentage-wise than his secretaries. Buffett whined about being “coddled”, “spared”, and excluded from those who are forced to “share sacrifice” and ended with a plea for taxes to be increased on anyone earning more than a million dollars a year.

How considerate of Buffett to throw together those earning one million dollars a year, with individuals like him who earn close to one million a week! Many of these “millionaires” whom Buffett stamped as rolling in extra dough are actually struggling owners of small businesses for whom it’s beneficial to file their taxes as individuals. Adding an additional tax on their already overburdened backs is akin to a death blow for many. But who cares? Obama and his cronies certainly don’t.

Our intelligent president pounced upon the brilliant suggestion of his good friend after frantically seeking a reliable-sounding basis upon which he can announce another tax increase. Obama was desperate for the federal government to increase their income and thus pay off some of their debt in the hope that it will lead to a free pass to spend some more. In the ultimate act of thankfulness, Obama named his new money-grab the “Buffett Rule” with the explanation that “Warren Buffett’s secretary shouldn’t pay a higher tax rate than Warren Buffett.” The rule basically stated that “People making more than $1 million a year should not pay a smaller share of their income in taxes than middle-class families pay.”

As Doug had already mentioned, AP had fact checked and found Obama’s statement, which was an almost verbatim repeat of Buffett’s claim, to be untrue.

Despite it being a blatant lie, Obama hasn’t backed off from his proposed plans. Nor has it dawned on him that if a specific group is overtaxed one should simply lower their tax rate rather than raising everyone else’s taxes so that everyone should be equally overtaxed. Although Buffett’s secretary may be overtaxed, so are most individuals in all brackets. Nevertheless, a low-income earner is forced to part with a smaller percentage of their income than those earning more than her.

Obama’s talk of removing loopholes is pure talk for it would affect many of his friends who’ve funded his past campaign and he’s relying on for 2012. Most of them are millionaires and billionaires who pay little or no taxes either because of loopholes and exemptions, or are flat out tax cheats. As Governor Palin had pointed out on Hannity last night, Berkshire Hathaway which is owned by Obama’s “friend” Buffett, currently owes the federal government over one billion dollars in back taxes which are almost a decade overdue. Buffett should thus send in the check plus whatever additional figure his heart desires instead of whining all day that he’s under taxed. Additionally, Obama’s buddies at GE got away scot free from paying any taxes “legally” via loopholes and exemptions despite the over fourteen billion dollars they took in. Actually, not only don’t haven’t they paid any taxes, they received over three billion dollars’ worth of tax credits courtesy of hard-working small business owners who haven’t gotten any connections with those in power.

So yes, there is a small group which comprise less than one percent of those who earned over a million dollars that have paid zero or close to zero in taxes. If you want to take them on, then by all means go ahead! Start with some of your buddies including GE, Buffett, GM, etc. and leave everyone else alone.

The Buffett Rule and any new tax hike are thus unnecessary, because the only ones that would actually pay the higher rate are those who are already way too overtaxed. Obama’s buddies will wiggle their way out while Buffett and others will leave it for the IRS to challenge in ten years from now. On the other hand, the Joe the Plumbers and other struggling shop owners will be forced to spit up the change.

It would be far more accurate and proper for those who oppose this new taxation to refer to it as “The Joe the Plumber Tax” because that is the class that will be hit the hardest. Raising taxes on all “millionaires” will be the equivalent of a death blow for many of the small guys while just an annoying splinter for the big guys like Buffett; that is if they’ll even bother to pay their share. Essentially, it will benefit those in the position like Buffett for it would ensure that none of the little guys will be able to threaten the security or standing of their companies.

This will further the creation of a socialist state where the rich remain rich while the rest of the nation is trapped in their current economical bracket. Entitlements have already ensured that the poor will remain poor. Stifling businesses and the middle class will ensure that they shall never rise to the top but remain stagnant or sink.

This article has been cross-posted from Conservatives4Palin.
  

 

Warren Buffet, Just Another Dishonest Liberal Elitist

Dishonesty from the left is the norm, however many assume it to only involve the leftist politicians and not necessarily the liberal business tycoons who support the leftist politicians.

Warren Buffet’s claim in an op-ed in The NY Times that he pays less tax percentage-wise than his secretaries proves the dishonesty of the left which runs from the very top to the very bottom.

William A. Jacobson of Legal Insurrection has done a great piece exposing his lies.

Warren Buffett bemoaned the fact that he and other super-wealthy investors pay a lower percentage of their income in taxes than their secretaries and other lower-paid staff members. This is an argument frequently heard from Democrats.

But in making that argument Buffett misleadingly lumps federal income taxes in with that he calls “payroll taxes.” Payroll taxes are known as FICA (the Federal Income Contributions Act), and it is the percentage employees and employers pay on wages with a limit to fund social security and Medicare.

As I have posted before, FICA is not a tax in the way other income taxes are taxes; FICA is supposed to be a pay-in to the mythical social security “lock box” which will provide funding for social security payments. The reason there is a cap on the amount of wages subject to FICA is that there also is a cap on social security benefits (by contrast, there is no cap on the smaller portion of FICA used to fund Medicare).

You can read the rest here.

Buffet ended his op-ed with a suggestion to increase taxes on anyone making over a million dollars a year, with an additional hike for those making over ten million dollars a year.

How nice of him to throw into one lump those making one million a year with himself, who makes close to a million a week! Remember that many of those making one million are small businesses which file as individuals. Instead of helping small businesses expand and add jobs, Buffet proposes raising their taxes which is akin to shutting them down.

Here’s a better solution to Buffet’s complaints of being “coddled”, “spared”, and excluded from those who are forced to “share sacrifices.”

What law prohibits you -- Warren Buffet, your friend Bill Gates, or anyone else from donating, say, a coupla million or even tens of million dollars to the U.S. Treasury to help pay off a miniscule percent of our debt? You’re whining that you’ve got to much money and don’t mind parting with it. Go ahead. We’re waiting.

One may wonder why someone like Warren Buffet or Bill Gates should wish to pay more taxes.

Is it possible that Buffet’s intentions are slightly colored and not as pure as he pretends to be?

Raising taxes on all millionaires equally will be equal to a death blow to many of the small guys, while just an annoying splinter for the big guys like Buffet. Essentially, it will ensure that no one will be able to threaten the security of the companies and standings of the Buffet guys, creating a socialist state where the rich remain rich with the rest of the nation forbidden of leaving their economical bracket.

Entitlements have already ensured that the poor will remain poor; stifling businesses and the middle class will ensure they never rise to the top but either remain stagnant or sink.